Archive for the ‘Finance’ Category

Free Credit Report Service Recommended by Clark Howard

March 11th, 2011
Lyn Collier asked:




You don’t have to sign up for a trial membership of a credit protection service to get free copies of your credit reports. There a few one-stop websites where you can order credit reports from all three credit bureaus: Experian, Equifax, and Trans Union. It’s easy. One site, Annual Credit Report, is even recommended by Consumer advocate Clark Howard as well as the Consumer Credit Counseling Service.

By the way, your “credit report” is not the same thing as your “credit score.” The reports will give your credit activity only – not your FICO score. The FICO score is a number that is generated using info from all three agencies. It is a product of Fair Isaac Credit Org. (FICO) and must be purchased – $15.95

When you get to the site and start clicking around to request your free report, a few things might concern you. The main thing…and it is kind of unavoidable is the request for you to enter your Social Security number. If you have strong reservations about entering your SS number online, you can just skip the rest of the article and look up the 800 number and do the transaction on the phone. But either way, you will to have to provide your social security number.

Back to the online request. At some point during your online request for a free credit report , each bureau will try to sell you their products. Stay focused.

Here is the protocol for Experian for example: (and they are all pretty much alike so I will spare you the details on the other 2)

Step 1 on the Experian site will offer to sell you your Experian credit score for $5.95. Each bureau assigns a score, but their scores do not represent your FICO score.The FICO score is the one that most creditors use. I don’t recommend buying a credit score from anyone other than FICO. it’s the only one that counts. When asked if you want to purchase your “Experian” score, scroll to the bottom of the page and click on “No thanks, I just want my free annual credit report.”

You will cruise through the steps pretty quickly. The only time you might have a problem is if you don’t answer the identification verification questions correctly. If you answer incorrectly you will be given a toll-free number to call where your i.d. can be verified manually.

Once you are done on the Experian site, you will be prompted to return to the Annual Credit Report site and continue with the other credit bureaus.

All the sites will walk you through the same process offering to sell you their products along the way. Remember, your goal is to get free credit reports, not buy stuff. Follow the prompts and you will instantly get your three credit reports free of charge.

Susan
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Obtain Your Absolutely Free Credit Report, No Trial!

March 8th, 2011
Ann Born asked:




You have an abundance of alternatives when looking for an absolutely free credit report, no trial. Within the United States, Americans have the ability to receive one absolutely free credit report, no trial from each of the three major reporting companies, yearly. Equifax, TransUnion, and Experian all provide you one free credit report on a yearly basis. The only requirement from you is that you contact any one of them and request your absolutely free credit report, no trial.

You will be required to provide them with proof of identification and current address. This is a necessary step to prove that you are the person shown on the credit report. After you have requested the absolutely free credit report, no trial, you will find your credit report sitting in your mailbox in as little as two weeks. If you are not willing to write these companies to request your free credit report, you can contact them by telephone as well. Depending upon the company you are going with, you may be able to find your credit rating right over the phone. However, you will still need to provide them with some identifying information.

Receiving an absolutely free credit report, no trial, is suitable for most people. There is really no reason you need to have constant review of your credit report. It does not generally change overnight, unless you have many different credit issues to deal with. The internet provides you with a multitude of methods in obtaining a free credit report; however, this will not be an absolutely free credit report, no trial. You will be required to provide credit card information and have to go through a 30-day free trial. There is no reason to risk your money or information online, when you can get a yearly, absolutely free credit report, no trial.

Francisco
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Credit Reporting Agencies Addresses and Phone Numbers

March 8th, 2011
Hector Milla asked:




Everyone is entitled to request their credit report once a year for free. The three major credit bureaus that one could request a report from are: Equifax, Experian, and Transunion. All three agencies statements can be obtained from annualcreditreport.com.

Addresses and Phone Numbers for three major Credit Bureaus

- Equifax: Equifax Credit Information Services, Inc, P.O. Box 740241, Atlanta, GA 30374. The phone umber is 1-800-766-0008.

- Experian: Experian, P.O. Box 9595, Allen, TX 75013. The phone number is 1-866-200-6020. Sometimes Experian changes its address for consumer questions, so please call to get the updated address.

- Transunion: Transunion, P. O.Box 6790, Fullerton, CA 92834. The phone number is 1-800-680-7289.

The Best Way to Get a Credit statement

The easiest way to get a copy of your financial history is to go online and put in all of the personal information and a report can be printed out right then and there. It is a good idea to have the addresses and phone numbers in case their is a dispute, fraud or something that needs to be discussed about the statement. In some cases there could be identity theft or a creditor on a statement that doesn’t belong. Or there could be accounts that have been paid and are old enough to be removed but they haven’t been. It is also handy for those people that do not have access to a computer.

When requesting a report information like name, address for the last few years, social security number, and date of birth are required. Once the information is completed it can be instantly viewed online, if it is requested by mail it could take up to 2 weeks to get the paper copy of the results.

Conclusion

The three major credit bureaus is the main way for any consumer to look at what is actually on their statements to see what is true and what is erroneous. Equifax, Experian and Transunion all provide an annual report that is free, but in some cases there may be a time when an individual may need a copy of his or her report throughout the year, there is a fee for a additional statement it could cost anywhere from $10-15. A free report can also be obtained in cases of credit denial, unemployment, identity theft or inaccurate information. Keeping track of ones financial statements and payment records is essential for leading a stress free life.

Annie
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Free Copy Of Credit Report

March 8th, 2011
Thomas Morva asked:




A recent amendment to the federal Fair Credit Reporting Act (FCRA) obligates the three nationwide consumer credit reporting companies – Equifax, Experian and Trans Union – to provide a free credit report to any consumer who requests it.

The importance of a credit report cannot be ignored. An accurate report can help you obtain loans for major purchases, or even help you rent an apartment. All this, and more, becomes difficult if you have negative errors in your report.

A negative report can prove to be an obstacle if you are job hunting. This is because most employers will go through your credit history before offering employment. If you are actually employed, then a negative report can reduce your chances for further promotion. And, what if the end of it you realize that these errors were because of no fault of yours and that they could have been sorted out in the first place. You can avoid this situation by ordering a free credit report.

Once you get it, make sure the information provided in it is correct. This means that you must verify that your personal details such as your name, address, date of birth, and also the name of your current employer are correct. When this is done, do a check on your financial status. This is because your report will also contain information of your bank accounts, loans, credit payments. In other words, your credit card is also in a way your financial statement on which your future transactions will depend.

If you find any discrepancies, file a report in writing, with any one of the consumer reporting companies, for action. Apart from providing you with the opportunity to verify your accounts and check your credit score, these reports also provide a listing of the companies who have made enquiries on your reports.

These consumer reporting companies sell this information to bankers, creditors, insurers, employers and other business houses. It is imperative to order a free copy to ensure that there are no inaccuracies or errors in your report.

Fred
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Free Credit Score Report – Government Mandates Free Credit Reports For All Consumers

March 5th, 2011
Hector Milla asked:




The federal government is currently offering all consumers the option of obtaining a free credit report once every year. This free credit report allows consumers the chance to become aware of their credit history, possible identity thefts, and areas to improve in, once every twelve months. While this is a great resource for all consumers, many will find that viewing only one credit report per year does not give consumers ample information to stay up-to-date on their financial standing.

Three Reasons Why Receiving One Credit Report A Year Is Simply Not Enough:

1. While receiving one free credit report a year is better than never viewing one’s report at all, it is almost impossible to improve one’s financial standing without viewing more than one credit report per year. Most people should consider using this free report as a starting point in repairing their financial history. Even those that have a good score may still benefit from making a few simple changes. This free report may be used to view any negative aspects in one’s financial history, whether those may be a debt in collections or credit cards that are nearing their limit. Once the negative factors influencing one’s score has been determined, one can then begin to work towards fixing any imperfections.

2. A person that regularly checks their report is at a much reduced risk of becoming a victim of identity theft. While those that regularly check their credit report may also become victims of identity theft, they are at a much greater advantage of catching a theft early and rectifying the situation before it spirals out of control. A great deal of damage can be done to one’s financial standing within the span of a year. In fact, someone that has a good score can easily find themselves with several fraudulent credit cards and/or loans that total thousands of dollars. However, someone that frequently checks their report will be able to spot a fraudulent debt and notify the proper authorities before their situation becomes dire.

3. People that frequently check their report tend to be more financially responsible. In terms of financial standing, ignorance is not bliss. Ignorance, many times, leads to one not being aware of how their debts, occasional late payments, and credit cards are truly affecting their financial history and credibility. As most people would agree, it is much easier to be aware of one’s standing and make efforts to improve their score over time, than to find yourself in a difficult situation when attempting to obtain a home or other important loan.

Joanne
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How You Can Get a Free Credit Report From All Three Credit Reporting Agencies

February 25th, 2011
Donovan Baldwin asked:




Were you aware that you can get your credit report for free?

It’s a fact!

Under the Fair Credit Reporting Act (FCRA), the three major companies which collect and disseminate credit information which are used by sellers and lenders to ascertain your credit worthiness are required to provide one free copy of your credit report every 12 months.

You might wonder why you want to even get one credit report, much less all three.

Well, there are three good reasons.

First, all three credit reporting agencies; Equifax, Experian, and Trans Union, collect and publish different data ABOUT YOU from different sources. What is on one company’s report may not be on another’s. In any case, ANY of the data may be wrong!!

Second, if there is incorrect data on your personal credit report, you cannot know that it is there and needs to be removed unless you see the report(s) yourself.

You need to know about it and remove it because, in the third place, any time you go to finance a major purchase, get a loan, or ask for credit of any kind, whether you are approved, and how much that extension of credit will cost you, i.e. interest. Whether you pay 4% or 24% in interest will be dependent upon what your various credit reports have to say about you.

Why not just get one report?

As mentioned above, each report may have different information relevant to your credit history. Additionally, however, each potential creditor may use one, two, or all three reports to determine whether or not to grant you credit.

Another factor is that many potential employers will first run a credit report on you before offering you a job.

A couple of years ago, I applied to company I was interested in working with. Nothing came of it, and I went to work with another organization. However, the first company sent me a copy of the report they had received. The first item on the report caught my eye because it showed my address as being that of a Dallas nightclub. Actually, while moving, I had opened a temporary post office box at a UPS store in a strip mall which shared the street address with the nightclub. However, the preparers of the report noted that the address could not be valid as a residence and was that of a strip club!

Getting your free annual credit report is relatively simple…and each of us has our own definition of “simple”.

Probably, the simplest way is to go to http://www.annualcreditreport.com.

This is the ONLY government-authorized website where you can go to request this service. They do not send you emails requesting information or place pop-ups on other websites, and, if you see one of those, it is probably a scam and/or an incidence of “phishing”…someone trying to get your identity data for their use.

You can claim your annual free credit report by phone, by mail, or through the Annual Credit Report website. Do not use any other link, by the way, than the one above. It is the only valid link and any other may take you to a false website.

You can also claim your report directly by phone or mail from the credit reporting agencies themselves. You will, of course, get the most immediate response by going through the Annual Credit Report link above, but, should you wish to contact the credit reporting agencies directly for your report, you can reach them at the addresses and phone numbers below:

Equifax Information Services LLC
Disclosure Department
P.O. Box 740241
Atlanta, GA 30374
800-685-1111

Experian
866 200 6020
(Call for your report or use AnnualCreditReport link above.)

Transunion
Best Bet: Go through the Annual Credit Report link.

YOU MAY ALSO BE ELIGIBLE FOR FREE CREDIT REPORTS AT OTHER TIMES

1. If a company takes adverse action, such as denying employment, credit, or insurance based on a credit report you have 60 days to request a free report. You should receive a notice from the company involved as to the credit reporting company they used to make the determination.

2. If you are:

*Unemployed and plan to look for a job within 60 days

*If you are on welfare

*If your report is false due to fraud, including identity theft

If you are not presently eligible for a free credit report, they only cost around $10 each at the time I am writing this. Many people are afraid they will be hard to get and expensive, but that is not the truth.

INFORMATION YOU WILL NEED TO HAVE

Of course, you will need your name (obvious), address, and social security number. If you have moved within the last couple of years, an agency may ask for your previous address(es). Each credit reporting company will probably ask for some information you alone should know, such as the amount of your mortgage payment.

Ralph
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Free Government Credit Report

February 16th, 2011
Thomas Morva asked:




The fair credit-reporting act makes it mandatory for the three organizations (Equifax, Trans Union and Experian) to submit a credit report at least once a year to anyone who requests for the same. Typing ?annual credit report? in a search engine, which provides credit reports online and at free of cost, can give access to the appropriate online site.

A free government credit report is also available by phone or by mail and reaches the concerned person within fifteen days of requesting. The government agency that provides free credit reports is located in Atlanta (Georgia) and can be contacted via mail or telephone.

The prerequisites that are required for obtaining a free credit report are ? the person?s name, address, social security number, and date of birth. There are some other ?imposter? credit reporting companies that try to mimic the actual agency?s website by deliberately misspelling it. This is a common tactic used by companies who try to extract money from unsuspecting credit report mongers.

Under the federal law, a person is permitted to obtain a free credit report if a company takes unfavorable action against him, such as rejecting his application for credit, insurance, or employment then the person can demand a free credit report within sixty days of receiving the notice. The notice will give the name, address, and telephone number of the consumer reporting company. A person is also entitled to one free report a year if he is unemployed and plans to search for a job within 60 days if he is on welfare or if his report is inaccurate as a result of swindling, including identity theft.

A credit report can make or break a company or a person because all the financial data and history of the report holder is clearly mentioned in this report. The most important fact to be noted about a credit report is that any negative comment or remark on the report will literally leave an indelible mark on the person?s financial record. This is because a bad credit remark is not removed from a credit report for at least ten years.

Alan
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Why Getting a Free Credit Report is So Important

February 16th, 2011
Lucy W Thomas asked:




Gone are the days when getting a copy of your credit report was almost impossible to do. These days, the law has made it possible for you to request your own free copy once every twelve months. These free credit reports can be taken from the three major credit reporting bureaus.

Constantly monitoring your credit report through out the year has several advantages, and one of these is revealing relevant information. For example, if you already canceled a magazine subscription that you previously signed up for, you will be able to monitor this through watching your report. This may seem a little insubstantial since it is not really a big investment, but you do not want to be caught off guard when someone from a credit agency comes in your doorstep. Knowing this early on will prevent any chance of having delinquencies in your credit account. As soon as you notice a delinquency on your free credit report, at least you will be able to call up the concerned agency at once and fix it as soon as you can.

Another advantage is having your credit report known to your employers. These days, employers are getting picky with who they want to hire, and one of the things that they look for is your credit score. Your employers might request to have a copy of your credit rating, so before they see any glitches in your score, at least you have already cleaned your report through constantly monitoring it and fixing problems. This will give you more employment opportunities and more confidence when you go for interviews.

And of course, getting a free credit report will enable you to resolve errors. When you get rid of these errors, remember to ask for a written confirmation of all your communication for your own records. You need to keep track of all your conversations for your own protection.

Jessica
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Helpful Tips On Obtaining Your Free Instant Credit Report Online

February 16th, 2011
Tim Gorman asked:




The Fair and Accurate Credit Transactions Act 2003 requires that the three top credit bureaus; Equifax, Experian and TransUnion provide free annual credit reports to anyone that orders one. The three bureaus have created and jointly hosted a website where consumers can order their instant credit reports for free. They also provide a toll free telephone number and a mailing address which can be used by consumers to apply for their reports. The Act also mandates that consumers should be able to get their credit scores for a small fee, along with explanations about the factors involved in the score computation.

Credit reports are important for two reasons – first, so you can spot any errors in your credit history and financial transactions and have them corrected immediately. An error could cause you to get labeled as a credit risk and classify you with bad credit which in turn means lower loan amounts and higher interest rates when you attempt to take out a loan in the future. The second reason for ordering your credit information is to make sure that any apparent identity theft can be identified and corrected.

Getting your credit score can also prove beneficial before you apply for a loan – any lender looks at your score before nailing down the interest rates on your loan. With a good score, you will be in a position to negotiate a better deal for yourself.

You are eligible to get three free credit reports, one from each bureau, every year. By going online to http://www.annualcreditreport.com, you can get your free report. You can choose to order all three together or choose to order one at a time over a period of one year. If you would like to keep track of your credit transactions through a whole year, ordering the three reports at different times would make sense. Although you can order by telephone or mail you should expect a wait time of a few weeks before your report arrives.

However, when you go online to order you not only get instant credit report, you can actually do so from the comfort of your home. Another point in favor of getting your report online from home is that you will have all your credit documentation close at hand to reference as required or needed. How will you get your credit report copy from the website? Once you log into the site mentioned above, you will be asked to enter some information like your name, address, date of birth and social security number. Then you can choose the bureau or bureaus whose reports you want to receive information from. After you make this choice, each bureau will set its own set of questions for you to answer in order to confirm your identity. This could be any unique information that is supposed to be known only to you, like the balance amount on a particular credit card account you hold.

Once your identity is verified, your instant credit report will be available at your finger tips! You will have the option to print this report or to save it as a file on your computer. After this, you can choose to go for additional services like getting your credit score etc. (note, these normally require a small charge or fee).

Chris
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Getting a Free Credit Report Can Be Easier Than You Think

February 15th, 2011
Cameron Drew asked:




Having a bad financial report can spell trouble in a lot of areas of your life. With a low credit score, you will find it difficult to get financing when you need it the most. Most people do not have the financial resources required to handle an emergency. They would have to rely on some kind of financial assistance to see them through the emergency. And it would not be possible to get this financing if your score is low. For this very reason, you need to maintain a good score.

First of all, do you know what your credit score is? The fact is most people don’t know or bother to find out what their scores are. Without knowing where you stand, you wouldn’t know whether or not you need to work on raising your score. A free credit report is normally available annually from many companies. But to improve your score quickly, you need to monitor your progress on a monthly basis. Moreover this report does not contain a numerical score which you would need to assess the health of your finances.

Based on the Fair & Accurate Credit Transactions Act 2003, certain credit bureaus like Experian, TransUnion and Equifax are required to furnish a free credit report once every year to consumers. Acquiring a report in this manner doesn’t in any way lower your credit rating. In fact it is an ideal tool to get an idea on where you. If you find yourself way down the scale, this free credit report will show you that and you can take steps to improve your score. There are no hidden charges to obtain this free credit report.

To obtain this report you first have to mention the state that you live in, in the form provided on the website. Then you will have to enter the information regarding your personal identity. Then you will be given the option to choose from among three credit bureaus. Since you are allowed to get a free report from each credit bureau once every year, you can get three reports by opting to get a free report every 4 months. Using this strategy, you will be able to get three free credit report statements from three different credit bureaus totally free of cost.

If you are planning on a big purchase like a house or a car, it would be wise to get all statements at the same time, so that you get a better estimate of your rating. In order to confirm your true identity, you will have to enter details like the account number of the loan that you obtained from your current lender. Therefore, when attempting to obtain your report, you need to have all the relevant financial information available. You will then be asked whether you need just a free credit report or your actual credit scores which each credit bureau charges anywhere from $5.95 to $7.95. So you can get your free credit report or pay to get your credit scores. Getting a free credit report is truly so easy.

Allison
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